172k views
4 votes
In contrasting the reporting procedures of employees and self-employed persons regarding job-related transactions, which of the following items involve self-employed?

a. Schedule C of Form 1040
b. Form W-2
c. Form 2106
d. Schedule A of Form 1040
e. None of these choices are correct.

User PROrock
by
8.6k points

1 Answer

4 votes

Final answer:

Self-employed individuals use Schedule C of Form 1040 to report their business income and deductions.So, the correct answer is a. Schedule C of Form 1040, which involves self-employed individuals.

Step-by-step explanation:

The reporting procedures of employees and self-employed persons differ when it comes to job-related transactions. Schedule C of Form 1040 is the tax form that self-employed individuals use to report their business income and deductions. This form allows them to calculate their net profit or loss from their business activities.

On the other hand, Form W-2 is used by employees to report their wages, salary, and other compensation received from an employer. It shows the amount of taxes withheld from their paycheck.

User BoooYaKa
by
7.4k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.